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Eight Tips for Writing, or Revising, a Whistleblower Policy
Whistleblower policies encourage staff, volunteers and others to discreetly provide credible information on concerns of illegal practices or violations of organizational policies. They protect individuals who risk their careers to report illegal or unethical practices. This article offers eight suggestions for writing or refining an organization’s whistleblower policy.
Illinois CPA Society Reappoints ORBA’s Stephanie Zaleski to its Fall 2017 Employee Benefits Conference Task Force
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest accounting firms, is pleased to announce that Stephanie Zaleski, CPA has been reappointed to the Illinois CPA Society’s (ICPAS) Fall Employee Benefits Conference task force.
ORBA’s Alison Fetzer Reappointed to Illinois CPA Society’s Not-For-Profit Organizations Committee
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest accounting firms, is pleased to announce that Alison Fetzer, CPA, has been reappointed by the Illinois CPA Society (ICPAS) to serve on its Not-For-Profit Organizations Committee for her fifth term, effective April 1, 2017.
Be Prepared for Your Next — or First — QDRO
In the settlement of divorce cases, it is frequent to have the courts order that a portion of one spouse’s pension benefits be assigned to the other (soon to be former) spouse. However, it is up to the plan sponsor or administrator to determine whether the order qualifies as a Qualified Domestic Relations Order (QDRO). This article discusses common errors that plan sponsors encounter when qualifying a domestic relations order and how to handle the rejection of an order.
The Power of Delegating: Improving Practice Efficiency
From a business perspective, spending too much time on non-medical concerns can reduce a practice’s efficiency and profits in the long run. This brief article points out that physicians need to delegate responsibilities so that they spend less time taking care of financial, recordkeeping or other functions unrelated to their medical responsibilities, and more time performing the duties of a physician.
Looking Ahead: Is Your Succession Planning Up to Speed?
Millennials’ emergence as a prominent demographic highlights the need for many workplaces to prepare for a generational shift. Law firms are no exception, particularly those founded by dynamic Baby Boomer rainmakers. If firms are going to survive and thrive, they must think about how to transfer management and primary client relationship responsibilities from senior partners to their younger colleagues. This article highlights the need for law firms to engage in comprehensive and formal succession planning. A Sidebar discusses replacement of a managing partner.
Is There Unclaimed Property with Your Name on It?
State unclaimed property programs are holding nearly $42 billion in assets, just waiting to be claimed by their rightful owners. This brief article explains how to search databases for unclaimed property and how to prove ownership.
Making Sense of FASB’s New Accounting Standard for Not-For-Profit Organizations
The Financial Accounting Standards Board (FASB) recently released its first update to the financial reporting rules for not-for-profit organizations. Join ORBA's Alison Fetzer and Sarah Widlock as they discuss how this new rule will affect your not-for-profit organization's financial statements.
Alternative Financial Metrics to Consider in Real Estate Purchases
When approaching each transaction, real estate professionals anticipate to achieve the best possible outcome. The property’s net operating income (NOI) is often the first metric they will assess in determining whether an investment is going to generate cash inflow. However, this metric will not be enough for a savvy investor. In most cases, investors need to evaluate the property’s highest and best use. This article discusses the fallbacks of NOI, as well as introduce two alternative financial metrics worth considering when investing in real estate property: Net present value (NPV) and internal rate of return (IRR).
Joining the ORBA Team
ORBA acquired Red Granite in 2016. This blog is meant to provide an overview of additional services and benefits that we can provide to our Red Granite clients who may not yet be familiar with our service model. Over the next few months, we will highlight both the traditional and unique services that we can provide to Red Granite clients and their owners and executives.